A Charlottesville/Albemarle Area RE Blog tracking the market's decline since May 2008 as it makes its way slowly to its price bottom in 2015. The second half of 2010 saw a steep downward spiral in sales; 2011 sees sales volume at a 13 yr low on prices that get lower each Quarter. 2015 may be the price bottom...barring some Black Swan event or more Gov't intervention. The word "Recovery" does not apply.
Wednesday, January 25, 2012
The Landmark Hotel's Creditors, Owed $17 Million, Get to Vote on New Developer's Offer of $2.8 Million to Buy Failed Hotel Out of Bankruptcy
With a deal that gives new meaning to the term "pennies on the dollar," what are the odds that the Landmark Hotel is going to come to fruition? There's something of a hotel-building boomlet coming in Charlottesville, but this blog remains dubious that the eyesore that is The Landmark will be part of it. Photo by Dave McNair/The Hook.
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